Historical Year Data · 2020
5Y Treasury minus Fed Funds in 2020
5Y Treasury minus Fed Funds opened 2020 at 12 bps and closed at 27 bps, a +125.00% move for the year. The high of 54 bps was reached on March 18, and the low of -82 bps on March 3.
Open
12 bps
2020-01
Close
27 bps
251 data points
High
54 bps
Mar 18
Low
-82 bps
Mar 3
Full Year Change
+125.00%
2019 Change
+55.56%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 12 bps | -27 bps | 12 bps | -27 bps | -325.00% |
| Feb | -24 bps | -69 bps | -13 bps | -69 bps | -187.50% |
| Mar | -71 bps | 29 bps | 54 bps | -82 bps | +140.85% |
| Apr | 31 bps | 31 bps | 43 bps | 29 bps | +0.00% |
| May | 31 bps | 25 bps | 33 bps | 24 bps | -19.35% |
| Jun | 26 bps | 21 bps | 40 bps | 20 bps | -19.23% |
| Jul | 23 bps | 11 bps | 23 bps | 11 bps | -52.17% |
| Aug | 12 bps | 19 bps | 23 bps | 9 bps | +58.33% |
| Sep | 17 bps | 19 bps | 21 bps | 15 bps | +11.76% |
| Oct | 18 bps | 29 bps | 29 bps | 18 bps | +61.11% |
| Nov | 29 bps | 27 bps | 37 bps | 24 bps | -6.90% |
| Dec | 33 bps | 27 bps | 33 bps | 27 bps | -18.18% |
Events During 2020
2020 COVID Crash & Recovery
Deflation
February–April 2020
The fastest 30%+ decline in S&P 500 history, followed by the fastest recovery. COVID-19 pandemic triggered unprecedented monetary and fiscal intervention.
2019 Hong Kong Protests & Capital Outflows
Mixed
June 2019 – June 2020
Hong Kong's 2019 protests over an extradition bill and Beijing's 2020 National Security Law reshaped the territory's role as Asia's financial hub. Capital outflows, reduced multinational presence, and regulatory divergence from the West had durable effects on regional finance.
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